As your browser does not support javascript you won't be able to use all the features of the website. We strongly recommend you to enable the javascript in your old browser's settings or download a new one.

Marriot Posts Q3 Earnings Beat, Revenue Gains 44%

Marriott International, Inc. MARjust released its third quarter 2017 financial results, posting earnings of $1.04 per share and revenues of $5.66 billion. Currently, Marriott is a Zacks Rank #2 (Buy) and is up marginally to $123.31 per share in after-hours trading shortly after its earnings report was released.

Marriott:

Beat earnings estimates. The company posted earnings of $1.04 per share, beating the Zacks Consensus Estimate of $0.98 per share.

Marriott’s revenues jumped 44% from $3.94 billion in the year-ago period. On top of that, the resort giant reported net income of $392 million in Q3, which is up from $70 in 2016. The company’s EPS also skyrocketed 300%.

The hotel giant now expects to post Q4 earnings between $0.98 per share and $1.00 per share. For the full-year, Marriott projects that it will post EPS in the range of $4.22 to $4.24.

"The business related to the hurricane response increased North American lodging demand modestly in the third quarter, even as business transient and group demand was in line with expectations,” CEO Arne M. Sorenson said in a statement. “Outside North America, strong leisure demand in Asia and Europe drove RevPAR above our guidance.”

Here’s a graph that looks at Marriott’s Price, Consensus and EPS Surprise history:

While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?

Starting today, and for the next month, you can follow all Zacks’ private buys and sells in real time. Our experts cover all kinds of trades: value, momentum, ETFs, stocks under $10, stocks that corporate insiders are buying up, and companies that are about to report positive earnings surprises. You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trade>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report